Comments on: The Mob Mentality and How I am Dealing

By: surveillance cameras

surveillance cameras — Sat, 11 Oct 2008 17:46:19 +0000

I have some money in stocks, and I am letting it sit there. It is all old companies such as Proctor and Gamble so I am not worried. As a matter of fact I have decided to take the money I waste daily on coffee, energy drinks, and junk while I am out and invest it. It was money I was throwing away anyway and maybe I can by low and be better off in a few years when this is all finally done and the economy is on the upswing.

By: Damien Riley

Damien Riley — Sat, 11 Oct 2008 02:53:14 +0000

That is very scary. My mom and dad aren’t ready financially to retire from real estate and yet my Dad lost his job last month. He was a sales manager. Keeping optimism is their main goal. Keep hope alive and everything will work out.

By: This Eclectic Life

This Eclectic Life — Sat, 11 Oct 2008 01:43:26 +0000

I will “be still” my friend. The stock market isn’t what scares me. It will come around again. What scares me is when my husband comes home from lunch and says, “The layoffs begin next Thursday.”

I’m going to go be still for awhile.

This Eclectic Lifes last blog post..There Is No Need To Be Pre POSTEROUS

By: Nick

Nick — Sat, 11 Oct 2008 00:19:18 +0000

Even if it goes down some more, it will come back to higher than where it is now before too long…if you get in now, you might not make as much as if you get in at the very bottom, but you will still come out ahead in the end…and if this is the bottom, it’s only going up from here and the longer you wait the worse off you’ll be.

Nicks last blog post..The Bright Side Of The Current Economic Situation

By: Dave

Dave — Fri, 10 Oct 2008 22:14:06 +0000

and then, you know, Damien, a bunch of bottom feeders came in in the last hour to wipe out all the losses, and make the INDU go green for a while, before spilling over with more sellers. I’m sure there’ll be more bottom feeders contemplating jumping in next week.
The mob mentality is in full force. My friend still has his money in thinking the capitulation is close, but still might not be complete. I’m still on the sidelines, thinking a turnaround is not happening yet…

By: Damien Riley

Damien Riley — Fri, 10 Oct 2008 19:17:58 +0000

You know, I never thought about people buying low! This could be a boon for them if the market recovers.

By: Damien Riley

Damien Riley — Fri, 10 Oct 2008 19:17:08 +0000

You are welcome. Reaction can be a negative word in some situation.

By: Damien Riley

Damien Riley — Fri, 10 Oct 2008 19:15:41 +0000

Agreed. But just like flexing a muscle, having hope takes effort sometimes.

By: Damien Riley

Damien Riley — Fri, 10 Oct 2008 19:14:37 +0000

I think it is easier for those of us who have no money in the stock market. I noticed on Yahoo! news today that today more people pulled out than ever.

By: Dave

Dave — Fri, 10 Oct 2008 18:21:46 +0000

I am currently staying with a friend who has about 1/2 his money in the stock market (diversified, of course). I don’t know his holdings or how much he has in any particular fund, and don’t really want to know. In past, “adjustments”, “capitulations” (whatever you want to call it), he’s stayed quite calm, preferring to “ride it out”. However, with the continuing plunge, I have noticed an air of panic in what he says, and the ” worst case scenario that’s going to come to fruition” (if the trend continues as it is now). All that type of thinking, “airing of laundry”, perpetuates worry in the mind of people within earshot, that choose to “buy in”.

I, on the other hand, have no money at all in the market. (though, I do have a small amount in a brokerage account, I have never acted on, and was involved with the last bubble burst in 2000). I find my outlook/opinion/perspective is one of not really paying it much heed. Kind of the “Be Still” as mentioned by the OP, and putting your mind to better use than to continually worry/fret about something that is much bigger than us. The market waters are like the ocean– they can either be gentle or be stirred up by a large scale hurricane. Right now, there are a lot of hurricanes passing overhead. Things will settle out, a bottom will be found. there are going to be a lot of financial casualties, and many companies that go under. But, they were in the wrong place at the wrong time, and without foresight, they are where they are. You can’t go back and grab the past. It’s over with. You only have the now to deal with.

Whatever happens, happens. There’s not much you can do about it… and I’d rather fill my mind with other things, like sports, learning the game of bridge, working on websites, and doing an occasional massage or two.